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MTN Announced the Resignation of the Company’s CEO Over the $5.2 Billion NCC Fine

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MTN on Monday has announced the resignation of CEO, Sifiso Dabengwa over the fine NCC slammed on the company for failure to deactivate unregistered SIM cards or SIM cards that were not properly registered.

According to the statement, the company has appointed Phuthuma Nhleko as the executive chairperson of the company on temporary basis.

In the recent weeks, MTN has made strong headlines both here in Nigeria and there in South Africa all connected with the $5.2 billion fine slammed on the company for failure to deactivate unregistered SIM cards before the deadline.

According to Dabengwa, his reason for resigning from job is because of the interest of the company and its shareholders. His resignation according to him takes place with immediate effect.

Nhleko who is to man the company for the meantime has been working with the company since 2001 and he served as a non-executive director and chairperson. But he gained series of promoting rising from executive director, group president and CEO an office he held till 2011.

Nhleko has accepted to man the company for a period of 6 months. According to him, within these periods, he would engage the Nigerian regulator towards the resolution of the problem. He also mentioned that he would also try to find a capable hand to act as the company’s Chief Executive Officer.

According to the company’s statement, MTN will keep working with the authorities of NCC to resolve the issue of fine it received from NCC.